When It Comes to One Belt One Road, Should We Fight or Learn From China?

Come May 14-15, China will be hosting the One Belt One Road (OBOR) forum meet in which India has decided not to participate. India’s decision to not participate is seen as a protest against China building the China-Pakistan economic corridor (CPEC), part of which passes through disputed land in Kashmir. Politics apart, the decision to not be part of a greater economic partnership like this one does not make much sense. In fact, in this age of paradigm shifts when world trade is growing more slowly than the world’s GDP and most developed countries are turning protectionist, it make sense to formulate policies that will help increase international trade. As the Chinese experience has shown, trade can be a powerful instrument for lifting millions out of poverty. Indian policymakers should learn how to make the most of an open economic policy from Chinese policymakers. To understand the why and what of China’s OBOR policy, we will have to go back a few years. Read More…